India's first Gems, Jewellery park to come up in Navi Mumbai

India's first Gems, Jewellery park to come up in Navi Mumbai

India's first gems and jewellery park is coming up at Navi Mumbai. In a matter of few years, the operations of Zaveri Bazaar in south Mumbai would be shifted to the gems and jewellery park.

It would be called India Jewellery Park Mumbai and would come up at Thane-Belapur Road.  

The Gems and Jewellery Export Promotion Council (GJEPC) signed an MoU with the Maharashtra Government develop a 25-acre gem and jewellery park at cost of Rs 13,800 crore.

GJEPC Chairperson Pramod Agarwal said India is a global leader in the jewellery industry as 90% of rough diamonds come to India for finishing.

"Earlier it came to Maharashtra, but due to various administrative hurdles, it was diverted to Gujarat and South India. But it is encouraging to see Maharashtra changing to attract the business once again. This will definitely help the industry to grow. Maharashtra will soon set up a jewellery park, which will be first in the country. We have the  vision to achieve $60 billion export in gems and jewellery industry by 2022," a GJEPC official said.

The ceremony was graced by Union Minister of Commerce & Industry Suresh Prabhu and Chief Minister Devendra Fadnavis at the ongoing Magnetic Maharashtra Convergence 2018 Global Investors Summit. "Foreign trade includes import and export of both services and goods. The role of states is crucial in national growth and Maharashtra is playing a bigger role in foreign trade as well as creating connectivity infrastructure. May it be via land, sea or air; Maharashtra has the potential to become growth engine of the country, as it has huge job opportunities in terms of facility building," Prabhu said.

The traditional manufacturing industry located in the Zaveri Bazaar area and other parts of Mumbai to be relocated to this park as karigars (workers) in these areas are working under sub-human conditions.

The park will also feature a Common Facility Centre, Custom and Banking services, Refining Centre and a host of other facilities for the manufacturers. Also, community services like schools and hospital will be developed to provide a sustainable environment for the workers and their families.